Want to understand how your marketing campaigns are performing and the path that leads take on the road to conversion? You can do so through marketing analytics and call tracking.
Understanding Marketing Analytics
Marketing analytics refers to the practice of measuring and analyzing marketing campaigns using various tools to uncover crucial data that can help you optimize results.
You can use marketing analytics software to find out the results generated by various marketing campaigns you are running. This information will provide a true picture of the status of your business with regards to lead generation.
Marketing analytics will not only help to improve your leads and sales generation, but also get insights into customer behavior, market trends, and consumer preferences.
The Importance of Marketing Analytics
Marketing analytics plays a big role in the organization’s quest for specific objectives. Through analytics, you can know whether your marketing efforts are generating a positive return on investment (ROI). You can then tweak your campaigns to improve the ROI while lowering your costs. This move will help you get the best value from your marketing budget.
Here are some ways in which you can use marketing analytics to optimize your business processes:
- Product Design – Keywords extracted from social media conversations and other search marketing campaigns can reveal the solutions or features that your target market wants.
- Customer Surveys – Survey data can help you to understand customer priorities, enabling you to know how you can pivot your business offerings to improve revenue while meeting market demands.
- Industry Trends – Customer calls and changing keyword search frequencies can help you uncover new trends in your industry. You can then position your business to take advantage of the emerging opportunities.
- Customer Support – You can analyze how customers interact with your support staff or knowledge base resources to understand the pressing needs they have.
How Call Tracking Helps in Marketing Analytics
As a business owner, you may already be tracking various metrics related to your online marketing campaigns. However, if you haven’t integrated call tracking in your business, you are missing a critical view of the performance of your campaigns.
A call tracking software provides a clear picture of your customers’ calling behavior and the results of your marketing efforts.
Call tracking involves assigning a unique phone number to each of your marketing campaigns. Inbound calls from the number are then tracked through special software that can be customized for your needs. The software provides in-depth analytics for both online and offline marketing campaigns.
Some of the features of call tracking software include:
- Keyword level tracking
- Campaign level tracking
- Multi-channel attribution tracking
Read on to find out how the features can help to improve your marketing campaigns and, ultimately, your business ROI.
Keyword Level Tracking
Call tracking software allows you to track different marketing campaigns at the keyword level. The keyword tracking feature provides an analysis of the keywords that are driving calls and resulting in the most conversions.
Here is how keyword tracking works:
The call tracking software assigns unique call tracking numbers to each of your marketing campaigns. Every time a customer visits your landing pages on different channels, they see a unique phone number. Each of the numbers is assigned to only one landing page at any one time, allowing the visitor to see this unique number throughout their entire stay.
When the customer calls your business using this unique number, you’ll know the campaign and the keyword that led to this call. This data is also fed through Google Analytics to show as a conversion.
With keyword-level tracking, you’ll know the marketing campaigns driving the most calls, and the specific keywords driving conversions.
Campaign Level Tracking
Campaign level campaigns allow you to gain insights on both online and offline campaigns driving calls.
Almost similar to keyword-level tracking, campaign-level tracking assigns unique numbers to specific campaigns. For instance, a TV ad will have a unique phone number from an online PPC ad.
When customers view the different ads and call the unique numbers displayed, you’ll know which campaigns are resulting in leads.
Multi-Channel Attribution Tracking
Businesses use a variety of marketing channels to reach their customers, including print ads, videos, podcasts, digital ads, and others. Multichannel tracking attribution makes it possible to track customer interaction with these marketing channels in real-time.
With traditional analytics, conversions are often tracked based on the customer’s last search or ad interaction before a purchase. This means you won’t know all the marketing campaigns the customer interacted with that led to the conversion. You will be left in the dark about the number of sources the prospect sought or the time they spent on each source before they made a purchase.
Here is a helpful example to illustrate.
A customer visits your site after seeing your Instagram ad. A day later, they remember that they saw an interesting product on your site. They decide to visit again, this time finding your site through Google organic search. A week later, they are checking their Facebook page when they see your retargeting ad on their newsfeed. The customer opts to use the provided link to visit and buy from your site.
Without multi-channel attribution, you would only see that the visitor landed on your site through the first Instagram ad channel. However, with multi-channel attribution, you will see not only the first touchpoint but also the subsequent touchpoints that led to the sale.
Multichannel attribution helps you track every interaction that led to an action being taken. From this information, you can allocate more resources to campaigns that provide the highest returns.
How Call Tracking Helps Marketing Agencies
Call tracking is also beneficial for marketing agencies looking to provide ROI to their clients. Some of these benefits include:
- Marketers can eliminate wasted spending on campaigns, ads, and keywords that are underperforming. Call tracking provides tangible results that indicate the campaigns driving phone call conversions. Instead of guessing which ad campaigns are giving you the best return, you can use call tracking to get exact performance data.
- Call tracking can be integrated with other software for a seamless experience, both for the agency and its clients. For instance, some call tracking software will have a calls dashboard on which clients can see call analytics results for themselves. Call tracking can also integrate with a client’s CRM, marketing automation system, or accounting software.
Why Your Business Should Invest in Call Tracking Software for Marketing Analytics
Today, customers are picking up the phone and calling businesses after interacting with their marketing campaigns on different channels. Studies show that calls to US businesses have increased by 110% since 2014.
With many customers calling businesses, marketers need a way to track and analyze the calls to improve their results. Here is an overview of why tracking inbound calls is critical for any business:
- Find out which marketing campaigns generate quality leads
- Find out the geographic location of your leads
- Identify the keywords that are generating calls
- Determine the value of your marketing campaigns, including offline ones
- Optimize your campaigns for the time of the day
Marketing analytics and call tracking software provide important data that enable marketers to measure and understand the impact of their online campaigns on their bottom line. Apart from this, the software provides rich data that managers can extract to make accurate decisions on activities that directly and indirectly affect the performance of the business.
Businesses and marketing agencies can greatly benefit from using call tracking software. The software has unique features that provide insightful results related to your marketing efforts. These analytics will help you make an informed decision on the best marketing campaigns to concentrate on to increase your ROI.